Investissement public et croissance économique au Cameroun

Bendoma, Marius and Messiné Essomba, Cyrille (2017): Investissement public et croissance économique au Cameroun.

Abstract

The present study analyzes the effect of the public investment on the economic growth in Cameroon. It is a question of appreciating the direct effect of the public investment on the growth on the one hand, and of highlighting the indirect effect of this last on the economic growth through private investment in addition. The econometric regression, using a modeling by method ARDL worked out by Pesaran et al. (2001), we end to the following results: (i) the public investment impacts negatively the long-term growth; (ii) no effect of drive of the private investment by the public investment is observed, and (iii) any shock on economic growth observed within a given year is may be entirely integrated within a period of two year.

• Item Type: MPRA Paper
• English Title: Public Investment and Economic Growth in Cameroon
• Language: French
• Keywords: growth; public investment; private investment; cointegration; ARDL
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B2 - History of Economic Thought since 1925 > B23 - Econometrics ; Quantitative and Mathematical Studies; H - Public Economics > H0 - General; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O11 - Macroeconomic Analyses of Economic Development; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q4 - Energy; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q4 - Energy > Q48 - Government Policy

References

• Aaron, H.J. (1990), “Why Is Infrastructure Important?” in Munnell, A.H. ed., Is There a Shortfall in Public Capital Investment? Conference Series, N°. 34, Federal Reserve Bank of Boston, Boston.

• Abraham-Frois, G. (1995) : « Dynamique économique », Dalloz, PARIS.

• Aschauer D. (1989a), “Is Public Expenditure Productive?” Journal of Monetary Economics 23, 177-200. Aschauer D.A. (1989b): “Public Investment and Productivity Growth in the Group of Seven”, Economic Perspectives, 13(5), pp 17-25.

• Aschauer D.A. (1989c), “Does Publics Capital Crowd Out Private Capital?” Journal of Monetary Economics 24, pp 171-188.

• Aschauer, D.A. (1990a), "Is Government Spending Simulative ?", Contempory Policy Issues, Vol. VII, N°.4, pp. 30-46.

• Aschauer, D.A. (1990b), “Why Is Infrastructure Important ?” in Munnell, A. “Is There a Shorfall in Public Capital Investment ?”, Conference Series, N°.34, Federal Reserve Bank of Boston, pp.21-51.

• Aschauer, D.A. (1990c), “Highway Capacity and Economic Growth”, Economic Perspectives, Federal Bank of Chicago, septembre-octobre, pp. 14-23.

• Barro R. J. (1990), “Government Spending in a Simple Model of Endogenous Growth,” Journal of Political Economy, Vol. 98, pp 103-125.

• Barro, R.J. (1991), "Economic Growth in a Cross Section of Countries”, Quarterly Journal of Economics, Vol. 106, N°. 2, pp. 407-443, May.

• Barro R.J. ET Sala-i-Martin X. (1995): “Economic Growth”, McGraw Hill, New York.

• Benabdallah, Y. 2008, « Le développement des infrastructures en Algérie : quels effets sur la croissance économique et l’environnement de l’investissement ?», in "ouverture et émergence en Méditerranée", colloque international, Rebat -Maroc 17-18 Oct.

• Chua, H.B. (1993), “Regional Spillover and Economic Growth”, Centre Discussion Paper, N°.700, Economic Growth Center, Yale University, September.

• Conrad, C. ET H. Seitz (1992), “The Public Capital Hypothesis: The Case of Germany”, Recherches Economiques de Louvain, Vol.58, N°.3-4, pp.309-327.

• Demetriades, P. et Mamuneas, T., (2000). "Intertemporal Output and Employment Effects of Public Infrastructure Capital: Evidence from 12 OECD Economies." The Economic Journal 110, 687–712.

• Devarajan S., Swaroop V. And Zou H. F. (1996), “The Composition of Public Expenditure and Economic Growth,” Journal of Monetary Economics, Vol. 37, pp 313-344.

• Document de Stratégie pour la Croissance et l’Emploi, (2009), Cameroun.

• Dessus S. et Herrera R. (1996) : « Capital Public et Croissance : Une Etude Econométrique sur un Panel de Pays en Développement dans les Années 80 », Centre de Développement de l’OCDE.

• Easterly, W. ET Rebelo S (1993): “Fiscal Policy and Economic Growth”, Journal of Monetary Economics, 32, pp 417- 458, December.

• Eberts, R.W. (1986), “Estimating the Contribution of Urban Public Infrastructure to Regional Growth”, Working Paper, N°. 8610, Federal Reserve Bank, Cleveland, OH.

• Evan, P. ET G. Karras (1994a), “Is Government Capital Productive? Evidence from a Panel of Seven Countries”, Journal of Macroeconomics, Vol.16, N°.2, pp.271-279.

• Hansen, R. (1965) “Unbalanced Growth and Regional Developement”, Western Economic Journal, Vol.4, pp.3-14.

• Harrod, R.F. (1948), Towards a Dynamic Economics: Some Recent Developments of Economic Theory and their Application to Policy, Macmillan, London.

• Herrera R. (1997), « Productivités et Externalités des Dépenses Publiques. Une Etude Econométriques sur Séries Temporelles pour l’Inde et le Pakistan », Economie et Prévision, 131 (5), pp 145-153.

• Hirschman, A.O. (1958), the Strategy of Economic Development, Yale University Press, New Haven.

• Johansen S. (1988), "Statistical Analysis of Cointegration Vectors", Journal of Economic Dynamics and Control, Vol. 12, pp 231-254.

• Johansen S. and K. Juselius, (1990) “Maximum Likelihood Estimation and Inference on Cointegration with Application to the Demand for Money”, Oxford Bulletin of Economics and Statistics, Vol. 52, 169-210.

• Khan, M.S. ET M.S. Kumar (1997), “Public and Private Investment and the Growth Process in Developing Countries”, Oxford Bulletin of Economics and Statistics, Vol. 59, pp. 69-88.

• Lynde, C. et J. Richmond (1992), “The Role of Public Capital in Production” The Review of Economics and Statistics, Vol.74, pp.37-44 LYNDE, C et J. RICHMOND (1993a), “Public Capital and Long-Run Costs in U.K. Manufacturing”, Economic Journal N° 103, pp 880-893.

• Lynde, C. ET J. Richmond (1993b), “Public Capital and Total Factor Productivity”, International Economic Review, vol.34, pp 401-414.

• Mankiw, N.G., D. Romer ET D.N. Weil (1992), "A Contribution to the Empirics of Economic Growth", Quarterly Journal of Economics, Vol. 107, N° 2, pp. 407-427, May.

• Meade, J.E. (1952), “External Economies and Des economies in a Competitive Situation”, Economic Journal, March.

• Munnell, A.H. (1990b):” Is There a Shortfall in Public Capital Investment “Federal Reserve Bank of Boston, Conference series, N° 34, Boston.

• Munnell A.H. (1992): “Infrastructure Investment and Economic Growth”, Journal of Economic Perspectives, 6, pp 189-198.

• Nazmi, N. ET M.D. Ramirez (1997), “Public and Private Investment and Economic Growth in Mexico”, Contemporary Economic Policy, Vol.15, pp.65-75.

• Pesaran, M.H., Y. Shin, and R. J. Smith, (2001) “Bounds testing approaches to the analysis of level relationships”, Journal of Applied Econometrics, special issue in honour of J D Sargan on the theme “Studies in Empirical Macroeconometrics”, (eds) D.F. Hendry and M.H. Pesaran, 16, pp.289-326.

• Ratner, J.B. (1983), “Government Capital and the Production Function for U.S. Private Output”, Economic Letters, Vol. 13, pp. 213-217.

• Romer, P.M. (1986), “Increasing Return and Long-term Growth”, Journal of Political Economy, Vol. 94, N° 5.

• Samuelson, P.A. (1954), “The Pure Theory of Public Expenditure”, Review of Economics and Statistics, N° 36, pp. 387-389, November.

• Shah, A. (1992), “Dynamics of Public Infrastructure, Industrial Productivity and Profitability”, Review of Economics and Statistics, Vol. 74, pp. 28-36.

• Shioji, Etsuro (2001). “Public capital and economic growth: A convergence approach”. Journal of Economic Growth, Vol. 6, pp 205-227.

• Sturm, J.E. ET J. DE Haan (1994), “Is Public Expenditure Really Productive? New Evidence for the U.S. and the Netherlands”, CCSO Series, N°. 20, University of Groninger.

• Touna Mama (1996), crise économique et politique de déréglementation au Cameroun, Paris, l’Harmattan p.15.

• Zekane, A. 2004, « Le rôle des infrastructures dans la croissance de l’économie algérienne : essai d’analyse économétrique », in revue des sciences Commerciales et de gestion, Alger.